Party Gaming (Party Bingo) Announcement Rocks Online Bingo Industry

Written by: Nikola Zugic on 17/12/2009 10:46

A recent Party gaming announcement has rocked the world of online bingo and started speculation running rife. This is one of the biggest news items of the year, as the company disclosed they are considering consolidating into one gaming firm together with Bwin. Both these companies are thought to be worth around $1.5 billion and Partgaming shares are currently worth 256.50p! They currently operate Partybingo, Partybet, Partypoker, Partygammon, Partybet, Partycasino and Partymarkets.

Should this consolidation take place it will create and online gaming giant and regulators in the UK look set to request the company to either confirm or deny this speculation. Partygaming recently settle with the US state department in and amount of $105 million to close a long running UIGEA dispute.

Having taken care of that little issue they have been aggressively consolidation their position within the online gaming industry and now own the majority of the World Poker Tour as well as Cashcade which it acquired for the bargain price of $150. Cashcade as you may know has big brand bingo names under it, one of the most famous and most popular being Foxy Bingo.

The word is out that a potential merger of these to gambling greats is still in very early stages, but market analysts are predicting there is going to be more of these consolidations between online gambling companies. It is also predicted that in the not too distant future an opening of the US gaming market will happen, and the gaming colossus this merger would create will be perfectly position to take full advantage of this opportunity.

Bwin is one of the largest online gaming companies in Europe and they also have a strong presence in Central America, they as immensely a successful company as Partygaming and this puts both companies on a very even keel.

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